Audiology Devices Market Analysis

Product (Hearing Aids, Diagnostic Devices, BAHA/BAHS, Cochlear Implants)

The global audiology devices market is segmented and analyzed for demand and supply by product into hearing aids, diagnostic devices, BAHA/BAHS, and cochlear implants. Out of these four types of segments, the hearing aids segment is estimated to gain the largest market share at 48.73%. The growth of the segment can be attributed to the increasing enhancement in people’s lives, along with technological advancement, and ease of comfort. For instance, Starkey Laboratories, Inc.’s Livio AI, which was launched in 2018, is the first to incorporate integrated sensors and artificial intelligence, allowing the user to monitor physical activity and cognitive performance as measured by hearing aid use. Furthermore, escalating demand for complete-in-canal hearing aids and invisible-in-canal hearing aids is another major factor that is estimated to propel the segment growth further throughout the forecast period.

Technology (Analog, Digital)

The global audiology devices market is also segmented and analyzed for demand and supply by technology into analog and digital. Amongst these two segments, the digital segment is expected to garner a significant share. The growth of the segment can be attributed to the proliferating digitalization and automation of hearing aids which is raising the demand for advanced digital hearing aid devices. On the other hand, the analog segment is projected to witness notable CAGR during the forecast period, owing to the use of a technologically enhanced microphone that creates intensifying sound. In addition to this, some analog hearing aids are configurable, using a microchip that allows a person to manage settings for different listening circumstances. Such analog devices are favored over digital technologies since they offer clear sound at a competitive price.

Our in-depth analysis of the global market includes the following segments: